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-duck session. president obama spoke to harry reid over the phone about the fiscal cliff over the weekend. the white house is making it clear today that the president won't sign a bill that extends tax cuts for those earning $250,000 a year in social security. it will not be part of the fiscal cliff. so we are going to talk about the compromise. we have a congress and to talk about this with us. >> and you for having me cheryl: or a little bill? >> we were waiting and hoping to compromise with its administration. but they they would just never come to the table. >> these democrats want to continue spending on social programs, republicans don't want tax cuts to be touched. you think we can have compromise from both sides on each of these issues? the rhetoric that we are hearing on a television screen is pretty negative. >> he did say that we want and the republicans will reach out to less. cheryl: after the last election, the november election, it was a referendum on many republicans. some of them walked away and said, okay, we did not get the senate back, we are moving forward. our republ
and savior, barack obama. >> eric: not even that savior. 36 days going over the fiscal cliff. you should know what is at stake if partisans don't figure out a way soon. bush tax cut goes away and that alone would drive taxup fo. the patches will die as well. so add in the failure of the super committee and sequestered $1.2 trillion. spending cuts of $600 billion in defense. why are we here? you can't blame revenues. americans forked over $2.3 trillion in taxes and fees last year. the taxaholics are stone cold drunk on our spending. spending is out of control. mr. president, waiting for you to stand up and show leadership. bob, haven't heard a thing. crickets. >> eric: i think you heard things. there is movement going on here. >> bob: i'm glad they're breaking away from norquist and say there is a need for revenue. i think whether that comes in form of limiting deductions to $50,000 for people making over $250,000 or -- >> eric: i can say. we will get to all of that. we'll get to the deals that may go on. where is obama's deal or his idea? his proposed, i don't know. the medicare, medicaid, re
-called fiscal cliff. president obama expressing optimism they can come up with a deal to prevent automatic spending cuts and expiring tax breaks just into fox, the white house spokesman, jake carney, reports president obama spoke with the house speaker boehner and the senate majority leader harry reid over the weekend. still, concerns of the crisis and the european debt crisis sent stocks down but not precipitously but down. we are seeing signs of progress in washington, dc, with rare bipartisan consensus on raising taxes on the wealthy but they remain at odds over the specifics. in other words, exactly highway do you do it. and mike emanuel is live on capitol hill. the white house is expressing putting pressure on congress. >>reporter: a report on the impact if the bush tax cuts are not extended. the study says the typical middle class family will see taxes go up by $2,200 next year affecting businesses and retailers. the argument is the families will spend less and it will hurt the economy. >> you can see it across housing, and services, and things like paying for cell phone, groceries,
: president obama and congress begin negotiations this week to avoid are the coming fiscal cliff, about $6 billion in tax hikes and spending cuts that will kick in. both sides say they're looking for ways to compromise. >> that's what it's about, if regan and o'neill can do it, obama should be able to do it. >> reporter: but republicans have consistently voted against any deal that raises tax revenue. >> the key is whether or not the republicans will move away from the id logically rigid tradition which was the grove pledge that they will not go for additional revenue. >> reporter: for the first time the antitax pledge seems to be negotiable. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid the coming grief and republicans should put revenue on the table. >> reporter: but new revenue doesn't necessarily mean new taxes. >> i would be very much opposed to raising tax rates, but i believe we can close a lot of loopholes. >> reporter: and democrats say just closing loopholes and cutting deductions isn't enough. >> we have to raise additional re
the political grapeline. we talk about the taxes with the looming fiscal cliff. this as president obama's aides owe bunch of back taxes. abc did the story in january. the i.r.s. released the federal employee and the retiree delinquently inventory and it shows 36 of obama's aides owe $833,970 in back taxes. other government employees owe a lot too. at the epa, 413 people owe more than $19 million. 185 employees owe $3 million in back taxes. five people at the tax court owe $62,508. there has been no followup by abc or any other organization. there is no word of update from the u.s. government. or a follow township the i.r.s. report might be available. they want teenagers to get faster track for morning after pill. they want them to make advanced prescriptions available to girls under 17. current federal policy bands sales of the pills to girls under 17. so having a prescription on hand could let them obtain emergency contraception quic quickly. saudi husbands receiving the text message alerts if their wives attempt to leave saudi arabia. the saudi author and journalist said they are held in slav
by george w. bush in 2008, has worked in the cftc. talks of the fiscal cliff trudging along, president obama and house speaker john boehner talking on the phone saturday. are we any closer to a deal? and it is a bird, it is a plane. nope. it is your social security number, it turns out more than just balloons in the sky at this year's macy's thanksgiving day parade. the crazy details of this one just ahead. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer lease a 2013 glk350 for $399 a month at your local mercedes-benz dealer. melissa: so, tal
:06 now. president obama and congressional leaders are about to enter some intense negotiationings that looming -- negotiations, the looming deadline. economists say if the u.s. goes off the the so called fiscal cliff, it will increase the likelihood of another recession. lawmakers say they're willing to compromise. >> when you're $16 trillion in debt, the only pledge we should be making to each other is avoid becoming brief and republicans should put revenue on the table. >> the big questions are whether republicans are open top some forms of tax increases and whether democrats will consider cuts to entitlement programs. >>> e elected officials including the governor and all the legislatures are getting their pay cut by 5%. for example, pay for the attorney general palilia harris is being cut to $143,000. that's a hundred thousand less than her replacement. but people don't run for office for the money. >> they're doing it because of a variety of factors, including the pursuit of power, the ambition to go to higher places and also of course hopefully public service that they want
weekend. thank you. still ahead of fiscal cliff mess just got messier. how president obama responded to john boehner's latest comments and holiday season rushes on. would you spend your money? where's the best place to invest it? buying retail stocks for losers next. gerri: it was black friday madness all across the country. this was macy's at midnight in new york city. other stores open really liked was r us and best buy, great deals like lc tvs which re 50% of. overall sales on black friday are expected to be 4% to $11.5 billion. midnight opening hours are one way traditional stores are doing everything they can to compete th online retailers which were open all the time. regular source said black friday, have their cybermonday, the monday after thanksgiving. it was a record breaker with half of shopping done that day on work computers. fedex said it would ship a record number of packages this year. how do you make money from this craziness? retailer stocks in the s&p 500 are up 25%, outperforming the overall index. break and mortar versus q or online retailers which is the best ch
, the full-court press of obama voters ramping up to fiscal cliff talks, out with a new report today showing the impact, losing middle class tax cuts and even the thought of it could have on holiday shopping and spending. combine that with the new poll showing the majority of americans, 45%, would blame the gop and congress and not the president if these fiscal cliff talks fail. are we seeing a white house not willing to lose this pr war no matter the outcome of the talks? >> i think you're seeing a gop that has yet to accept the election results, sort of negotiating with themselves about what they will and won't accept without acknowledging the polls you just cited and the other thing is a strong majority actually also wants a deal. they want a compromise, a balanced compromise. as the republicans are negotiating with themselves over here, the administration and the rest of america is kind of in another place and i think the administration rightly so and remember this was an issue when the president was first elected, there were questions about whether or not he would use the power of that
overtime on tuesday night. >>> thanks so much. well, the white house says concern over the fiscal cliff could hurt consumer confidence during the holiday shopping season. president obama and congressional leaders will get back to work this week trying to agree on a budget plan. if an agreement is the not reached by the end of the year, a series of tax increases and spending cuts will automatically kick in. lawmakers in both major parties say they're willing to compromise. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming brief and republicans should put revenue on the table. >> the big questions are weather republicans are open to some forms of tax increases and whether democrats will consider cuts o to entitlement programs. >> a san francisco couple challenge of the defensive marriage act may be one of several the u.s. supreme court considers this week. the justices will decide whether to hear an appeal from the defenders of the prop 8, the initiative banning gay marriage. they're expected to meet this week to decide which cases
. the president's team wants to use that energy in the current fiscal cliff debate. quote, mr. obama's aides are trying to harness the passions that returned him to the white house hoping to pressure republicans in congress to accept tax increases on the wealthy. joy reid is managing editor of thegrio.com. she's at least as smart as i am, which is not an accolade, it's a fact, and she's much younger. okay. whey found out this weekend and you know this better than i, i enjoy your report on this, the obama campaign wasn't some coupe by ia number. it was real, it was people meeting people, getting points for moum contacts you made with voters. they knew a certain number of contacts led to a probability of people voting. can you turn that machine into something that can get the right kind of deal? >> i think the president spent a year and a half developing a gigantic infrastructure that really came out on election day. and he did that -- >> human. >> through these kinds of also the campaign that brought those people out and central to that argument was that we need an economy that works for eve
't satisfy their priorities. in other words, they'd rather walk the country off the cliff than watch president barack obama gave on long-held liberal priorities. to call the republicans bluff on this? >> the progressives are clearly feeling their oats at this point. they are feeling good about the election but i think also obama feels like he gave away too much or was too conciliatory last time around. the last debt crisis we had made the republicans look back. it hurt their image and you can see them trying really hard this time to paint the picture as they are the reasonable ones, it's obama being unreasonable. that said, what we're probably looking at is they are going to kick this can down the road and give us a short-term resolution to get past january and then do this all again next year. >> but at the same time, jared, the public is supporting the progressives or the democrats on this. polling shows this. 72% republicans should compromise. 72% of the of the people polled. 67% want a mix of spending cuts and tax increases. 56% taxed the wealthy to help the poor. 53% unfavorable
. then where does america stand on the verge of a second obama term in office? the economy, the fiscal cliff talks, the president's priorities in the next four years. our roundtable is here. david brooks of "the new york times." msnbc's reverend al sharpton. former ceo of hewlett-packard carly fiorina >> historian and film maker ken burns. and nbc chief foreign affairs correspondent andrea mitchell. and we'll here from representative gregory meeks this morning as we check in on some of the hardest-hit victims of hurricane sandy and see how they offered thanks this weekend while surrounded by destruction. >>> from nbc news in washington, the world's longest-running television program, this is "meet the press." with david gregory. >>> president obama doing his part for the economy over the weekend out holiday shopping as part of small business saturday, picking up several children's book at an independent bookstore iypÑarlington. >>> meanwhile, uncertainty in the middle east. more clashes in egypt over the weekend as police use tear gas this morning to disburse protesters in cairo. i want to
president obama for the fiscal cliff and the six months prior to the election. >> yes. and not just congress, but republicans in congress who were inflexible, they're fighting tax raises on the rich. you would think if you watched coverage of this debate that grover norquist was single handedly stopping progress from occurring. he's not a member of congress, he does not have a constituency. he is an activist in washington. by the way, this story to some extent is over. republicans have signaled they are open to raising taxes on the rich. many of them have attacked grover norquist. but if you get a hand held calculator and a calculator action you will conclude that the rich being undertaxed is not the reason we have a debt larger than our economy. it's entitlements. medicare, medicaid and social security. and by the way, that's the debate. will we curtail entitlement spending and that is exactly the debate that is not being covered in the press. >> steve: and the reason we brought this up is because according to the research, the main stream media blaming republicans more for the problem, it'
. president obama and congress begin negotiations this week to avoid the coming fiscal cliff. about $600 billion in automatic tax hikes and spending cuts that will kick in at year-end. both sides say they're looking for ways to compromise. >> that's what representative government should be about. no one gets all they want. if reagan and o'neill could do it, boehner and obama should be able to do it. >> reporter: but republicans have consistently voted against any deal that raises tax revenue. >> the key here is whether or not the republicans will move away from the ideologically rigid position which has been the grover/norquist pledge which most of them signed that they will not go for additional revenues. >> reporter: for the first time, even the anti-tax pledge appears to be negotiable. several republicans are indicating they're open to breaking that promise. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece and republicans should put revenue on the table. >> reporter: but new revenue doesn't necessarily mean new taxes. >
with talks to resolve the cliff. with no action by lawmakers and president obama, $600 billion in tax hikes and spending cuts would take effect in january. republicans and democrats at odds on calls to raise taxes on americans and cuts on programming like medicare. both sides publicly saying they're willing to compromise. >> we've got to raise additional revenues including tax rates on the wealthy. >> those have to go up. >> they have to go up either real tax rates or effective tax rates. there's ways of doing that. >> republicans always put revenue on the table. democrats always promise to cut spending. we never cut spending. what i'm looking for is more revenue for entitlement reform. >> and john boehner's called for a short term fix to overt the fiscal cliff so congress can work on on a bigger deal in 2013. but in an op-ed, republican senator bob corker says both sides need to carve out a $4 trillion package that includes both revenue hikes and spending cuts by the end of the year. >>> still to come, the miss crest shopping day of the year for online retailers. snapping up deals on big i
an entitlement nation. a record number of people getting government handouts. as we approach the fiscal cliff, will president obama seriously consider entitlement reform? we will discuss it with a man who knows next. now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a mecare plan... your efforts result in the quality of care and service we're able to provide... which means better health outcomes... and more quality time to share with the ones who matter most. i love you, grandma! [ male announcer ] humana. ♪ stuart: significant developmen
obama term in office? the economy, the fiscal cliff talks, the president's priorities in the next four years. our roundtable is here. david brooks of "the new york times." msnbc's reverend al sharpton. former ceo of hewlett-packard carly fiorina >> historian and film maker ken burns. and nbc chief foreign affairs correspondent andrea mitchell. and we'll here from representative gregory meeks this morning as we check in on some of the hardest-hit victims of hurricane sandy and see how they offered thanks this weekend while surrounded by destruction. >>> from nbc news in washington, the world's longest-running television program, this is "meet the press." with david gregory. >>> president obama doing his part for the economy over the weekend out holiday shopping as part of small business saturday, picking up several children's book at an independent bookstore iypÑarlington. >>> meanwhile, uncertainty in the middle east. more clashes in egypt over the weekend as police use tear gas this morning to disburse protesters in cairo. i want to start there. we have "new york times" columnist dav
that each congressman or woman has that once this obama administration priorities past and has a certain outlook and the fiscal cliff, but every single one of the people that are voting and that persons district has an interest in this fiscal cliff negotiation happening, and interest in the compromise being made. and so those -- when the first freshman wave of the party is came in in 2010, when we are negotiating the grit -- debt ceiling this would be the first a dull moment for these freshmen tea party years. this is a second of all moment, and both sides are going to have to make serious painful concessions whether democrat who sacrificed domestic spending on programs that you think a really important or republican. and generate more revenue with taxation. what the constituents once a republicans to take their oath of office more seriously. melissa: everybody has a stake in the ground about what they want their congressman to do. all very different. that's or hung up. that's -- thank you for coming up. >> thanks for having me. melissa: an unprecedented power grab assets of violent prot
days to go before automatic increases and spending cuts known as the fiscal cliff go into effect this is a live look of the senate floor, you see mcconnell the minority leader speaking now. president obama and congressional leaders are not expected to meet this week they want give staffers more time to work through differences first. the president is expected to hit the road to lied public support for his proposal. -- road to mobilize public support for his proposal. >>> current secretary of date will be termed out in 2014, if elected, ye hopes to expand california's online voter registration program into an online voting program. >>> that fog is hanging tough today itch >> worst spot is sfo, just a quarter mile visibility there, sunny and -- sunny and 60 in san jose now. fog in the north bay improving, we are looking at oakland, with foggy conditions, and vollmer peak. a big change all straight ahead. >>> plus, the hidden dangers of those bouncey houses. new report on how many kids they send to the hospital. >>> some bay area school kids get a surprise visit from one of the star
increases and spending cuts known as the fiscal cliff go into effect this is a live look of the senate floor, you see mcconnell the minority leader speaking now. president obama and congressional leaders are not expected to meet this week they want give staffers more time to work through differences first. the president is expected to hit the road to lied public support for his proposal. -- road to mobilize public support for his proposal. >>> current secretary of date will be termed out in 2014, if elected, ye hopes to expand california's online voter registration program into an online voting program. >>> that fog is hanging tough today itch >> worst spot is sfo, just a quarter mile visibility there, sunny and -- sunny and 60 in san jose now. fog in the north bay improving, we are looking at oakland, with foggy conditions, and vollmer peak. a big change all straight ahead. >>> plus, the hidden dangers of those bouncey houses. new report on how many kids they send to the hospital. >>> some bay area school kids get a surprise visit from one of the stars ron: years ago i made a promise to pro
of the fiscal cliff but the president says america can steer clear. >> president barack obama: i believe it is solvable and my budget, frankly does it and i don't the republicans to adopt my budget, i recognize we have to compromise. compromise is hard. >> lou: more than a trillion-and-a-half dollars in tax hikes, no spending cuts. what is the deal? ♪ >> lou: well the president wants to raise taxes. by $1.6 trillion. that is his opening gambit. his initial bargaining position. on the fiscal cliff. he wants to do that over the next decade. and, this is the kind of math i like, it works out to $160 billioper year, in taxes. republicans howling about that. are they wrong to be upset? let's look at numbers. earlier this year, the president unveiled a 3.8 -- i love this. we talk about these numbers like there is nothing do it. $3.8 trillion budget. all right, he forecast a $1.3 trillion deficit. okay? so that means, if i can figure that out, he had $2.5 trillion to work with. $1.3 trillion in deficit. $901 billion, for next year, in deficit and our national debt is now over $16 trillion, an
: president obama's top economic advisors warned today that the looming "fiscal cliff" may yet hurt holiday sales. in a new report, they said the prospect of automatic tax increases in 2013 could cause consumers to rein in spending. the report came as congress returned to work. lawmakers are under pressure to strike a deficit deal, preventing the tax hikes and deep spending cuts. wall street's week got off to an uncertain start, partly over concerns that strong holiday sales won't last. the dow jones industrial average lost 42 points to close at 12,967. the nasdaq managed about a ten- point gain to close at 2976. the woman who helped steer the government's regulatory response to the 2008 financial crisis is stepping down. mary schapiro announced today she's resigning as chair of the securities and exchange commission after nearly four years. president obama has designated s.e.c. commissioner elisse walter to replace schapiro, effective december 14. in bangladesh, thousands of people protested today over a deadly fire at a factory that makes garments for american and other companies. at leas
. martha. martha: so, as president obama mulls a number of things, including the fiscal cliff he also has to make a decision about his new secretary of state. condoleezzaa rice has a warning today that the middle east is quickly slipping away, and that it's all being engineered by iran. that stark assessment from her is getting a lot of attention this morning. [ malannouncer ] it'that time of year again. time for cii price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. buy now. save later. martha: as president obama mulls the decision for his new secretary of state, the former secretary of state condoleezzaa rice has issued a very stark warning to the president and to the world. in a new opinion piece she suggests that the situation i
popping the champagne yet. david coat, the honeywell ceo who met with president obama during that business leader summit last week says that the looming fiscal cliff is already impacting his business. >> right now i'm not that bullish at all. in fact i'd say there's a great uncertainly that's just hanging over the entire economy because we're not confident that our guys can govern anymore. people like me just aren't hiring because we're not confident they can do it. >> well, the white house echoed that concern this morning. a new report says failing to act on the president's plan for middle class americans would freeze the economic recovery. obama's plan includes lower taxes on the first $250,000 earned by every american and tweaking the alternative minimum tax. the white house report estimates that consumer spending would fall by $200 million. now that's more than three times what consumers spent just over this entire holiday weekend. there could be a drag on a range of industries from cars and housing to restaurants and supermarkets, if congress can't reach a deal. and look, pocketbook i
national cable satellite corp. 2012] >> as negotiations continue between president obama and congressional leaders, the focus on the fiscal cliff, going back to august 2011 to look at how we got here. some of the debate and is conferences relating to the passage of the budget control act treating the spending cuts beginning tonight at 8:00 p.m. eastern here on c-span. also tonight at 8:00 on c-span2, "the communicators." the effect federal emergencies have on communications. among our guests for the president of regulatory affairs of the wireless association and and the congressman from the commerce committee. >> are 16 or 17 basis, we have military-run in schools. the average cost to run them per year is $50,000 per student. almost four times what the rest of public education costs. the vast majority of our bases, we use public schools. we could take the money we're spending today, pay every school system $14,000 per child and save billions of dollars per year. with the same or better outcomes. >> this weekend, talking with oklahoma senator tom coburn about the fiscal cliff, affordable ca
on tuesday. the so-called fiscal cliff is the biggest item that is sitting on the congressional agenda. if president obama and congress don't reach some sort of deal, huge tax increases and spending cuts would automatically kick in january 1. todayself republica selveral red away from a pledge banning tax increases. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece, and republicans should put revenue on the table. i want to cut rates to create jobs, but i will violate the pledge, long story short, for the good of the country only if democrats will do entitlement reform. >> i agree with saxby chambliss. a pledge you signed 20 years ago, 18 years ago is for that congress. if i were in congress in 1941 i would have signed -- supported a declaration of war against japan. i'm not going to attack japan today. the world has changed. >> does it mean we might be closer to a fiscal cliff compromise? athena jones takes a closer look. >> reporter: that's, of course, the big question here. we know in the meeting the president had with
good at doing these days we'll go over the fiscal cliff. >> we have to show the world we're adults. the election's over. president obama won. >>> it's a big weekend for shopping. it isn't over yet. today is cyber monday. the biggest day for online sales. >> shoppers are expected to spend $1 billion 1/2 today. >> and some like to shop in bunny slippers. >> and fret mohammed morsi granting himself extra powers. >> sending the country's stock market into free fall. >> buy a ticket for this wednesday's powerball lottery, you could win in the megaball. >> bradshaw with the touchdown. >> giants tommenate. >> officially a time-out. >> cheerleaders shave their head to support the coach diagnosed with leukemia. >> and all that matters -- >> suddenly changes into the -- 6. >> anybody want to top that now? >>> on cbs "this morning." >>> the rolling stones marked their 50th anniversary with a concert in london and head to the united states next month. ♪ hey, you, get out of my path ♪ you know when i'm going, out of my path ♪ captioning funded by cbs >>> welco
the power to prosper. ♪ dagen: president obama and house speaker john boehner talking about a solution to the fiscal cliff. this coming to us from our partners at the "wall street journal" this hour. connell: the discussion about whether or not to raise taxes. some talking about abandoning their pledge. we spoke earlier with grover norquist. >> for the last 20 years, they have all kept the pledge. just me, the pledge, however, in the tax issue are very, very powerful. connell: do you think they will keep it again? >> i think they will keep it again. connell: that brings us to the judge. judge andrew napolitano. >> my thoughts are that some republicans will cave and break their vow not to raise taxes and they will suffer the fate of george bush that did not have a second term because he broke his vow. they may think they may get reelected without the republican base, they can probably not get renominated without the republican base. they will be inviting primary challenges. in terms of the lawfulness, this is a public pledge. it is political not legal. the people who work for the govern
position. that said i'm encouraged by the reelection of president obama and certainly for the leadership that leader pelosi has given and will continue to give. we will need their leadership as the president must quickly face the challenge of his second term, avoiding this fiscal cliff. in august of 2011 congress passed the budget control act which threatened automatic spending cuts if congress failed to come up with a planned deficit reduction by 2013. these cuts are what we refer to as sequestration. this would mean an across the board cut of between 7% and 10% of all defense and non-defense federal spending irrespective of policy or its impact on everyday people. these cuts would be absolutely devastating to our national and local economies. our -- show that sequestration will reduce federal funding direct to san francisco by at least 26.5 million dollars a year, every single year. we would see over $5 million of cut to education, and almost $3 million of cuts from public housing. san francisco's allocation of medicare would be cut by $2 million. funding for the wic workforce program
to pay for obama's bigger government. >>neil: do you hear it is spreading? we have chatted about this before. you were open when we chatted in washington, to talk about the cliff cliff, to not equateing bringing in causes or tax loopholes and the like and closing them off, your point was as long as it leads eventually to revamping of the tax code, but this goes beyond that, they have no quid pro quo and they are offering this, you argue, what? >>guest: well, there are two ways you can damage the economy. one is to increase marginal tax rates, everyone knows the small business groups, it would kill 700,000 jobs off the bat, probably worse. the other thing is to eliminate $1 trillion, not talking about a few deductions, but talking about $1 trillion worth of deductions and credits which is what the other team wants. if you do this you have killed tax reform for a generation. how do you get the rates down if you don't have the deductions and credits. what obama is hoping to do is raids spend the money, kill tax reform for individuals. >>neil: what do you do, the house majority leade
, in fact, do go off that fiscal cliff, 45% say the gop. 34% say president obama. 15% say both. now, as congress returns to washington, the white house coming out with a new report saying that if taxes go up on those middle class families, those making less than $250,000 a year, consumer spending will drop next year by nearly $200 billion. that's a continuing effort by this white house to show that middle-class families need relief. wealthier americans need to pay more. soled soledad? >> appreciate the update. grover norquist is the author of "debacle: obama's war on jobs and growth and what we can now do to regain our future." talk a little more about the impact of what stepping away from this tax pledge would be. nice to see you, grover. thank you for joining us. you heard lindsey graham a moment ago. peter king talked about saxby chambliss as well. here's what he said. >> i agree entirely with saxby chambliss. a pledge you signed 20 years ago, 18 years ago, is for that congress. for instance, if i were in congress in 1941 i would have signed -- supported a declaration of war agai
waiting and watching to see if our officials can keep us from going over the so-called fiscal cliff, more specifically, that's a series of tax increases and spending cuts together set to go into effect on new year's day if they cannot agree on a budget before then. president obama and congressional leaders have been talking and possibly to come this week. it's november 26th. they don't have a lot of time. peter doocy with the news from washington. >> harris, republicans and democrats alike think that closing loopholes to raise revenue is a good idea. republicans are resisting the idea that inleasing tax rates on the wealthy will steer the country away from the fiscal cliff even though suspects insist it will. >> i would be very much opposed to raising tax rates, but i believe that we can close a lot of lop holes. >> they have to go up, real or effective tax rates, there are ways of doing this and secondly, we have to gross loopholes. >> lindsey graham is okay with new revenue and willing to cap deductions to get it, but only if democrats agree to reform entitlements like social security a
. host: are you a republican? caller: i am, but i voted for obama. host: what would it take for you to vote for republican? in terms of the fiscal cliff, sequestration, big budget cuts, what do you want to see them do? caller: if the republicans could find a candidate that would do what ronald reagan dipped, they would gladly get my vote back. as long as they have people like john mccain, sarah palin, and mitt romney, they are just playing. host: here's a story in the new --k times . david is up next, new york, good morning. caller: good morning. how are ya? i'm a republican and i don't believe that the 1% or a portion of the country should be taxed. it can be mathematically proven. a president handed in m speech to be scored. he never came up with a plan how this money would be redistributed and that it would solve the problems. i don't see it. there was nothing mathematically drawn up. the republicans had a couple of plants. loring the taxes and getting people back to work, getting them off the food stamp programs and whatever other entitlement program there is, get them off of t
] [captions copyright national cable satellite corp. 2012] >> as negotiations continue between president obama and congressional leaders for the so-called fiscal cliff, we are going back to august of 2011 to look at how we got here, reviewing some of the debates and news conferences related to the budget control act. that begins tonight at 8:00 eastern, here on c-span. and then, the communicators. after hurricane sandy, we examine the impact the federal emergencies have on telecommunications systems. amongst our guests, the vice president of the regulatory affairs association, and congressman rangel, the serves on the commerce committee. -- who serves on the commerce committee. alan krueger spoke today at a briefing about the economy and consumer confidence. this is a little more than one hour. >> special guests. good afternoon, ladies and gentlemen. thank you for your patience. we decided that it would be beneficial to you to have alan krueger joining me here today, as you know. he co-authored a report from the white house on the impact of middle-class tax hikes if they were to occur on retai
jenna: if five short weeks today until new year's eve than the fiscal cliff. are they any closer to a del. jon: the obama healthcare law facing a legal challenge. what the supreme court did this morning, what it could mean to the legislation. leland vittert uncovers iran's shipment of weapons and supplies to the syrian regime and which country is allowing the shipments to pass through its air space. halle berry goes to court after a vicious fight between her e boyfriend and fiance at her house. all the latest from hollywood coming up. jenna: a new warning from the white house as congress seeks a deal to keep the economy from heading over that fiscal cliff we've been talking so much about. welcome to the second hour of "happening now" i'm jenna lee. stpho: i'm jon scott. once again the competent edges closer to the cliff. last time lawmakers punted the can down the road. now there might be enough political pressure on both sides to reach some kind of compromise. house majority leader eric cantor telling fox news earlier that everyone wants a deal otherwise come january 1st taxes g
of president obama's top economic vers about this new statement about social security suddenly no longer on the table when it comes to discussions about spending and the fiscal cliff. how are we going to rise above when you take certain things off the table? >> also, after the bell, americans spending billions of dollars this holiday season on their pets. we'll speak exclusively to the ceo of one of the companies cashing in on that. >> look at that kitty. >> the cats are being left out. you're watching cnbc first in business worldwide. if we want e our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. look this isn't my first christmas. these deals all seem great at the time... but later, not so much. this isn't that kind of deal. [ male announcer ] break from the holiday stress. save on ground shipping at fedex off
that president obama and house speaker boehner did speak about the fiscal cliff over the weekend. the market took back a couple of points there. really nothing dramatic. declines today very broad-based and they have helped to push the s&p 500 below that 1,400 mark today. of course, they are waiting on a greek deal, could give a lift to the markets, maybe this afternoon and, of course, a lack of news other than those headlines that just crossed about the fiscal cliff. a bit of a concern as we came in to today's session. also interesting to note that the retail sector is weak today. this after the reports that looked like trading over the -- or i should say sales over the start of the holiday shopping season were fairly strong. we have some of the higher end retailers actually leading the retreat among the retailers that we are seeing. keep in mind, the white house did put out a paper saying how the middle class would be impacted in the event we went over the fiscal cliff and how some of those retailers would, as well. the exception among the higher end retailers appears to be tiffany or is tiffany
to avoid going over the fiscal cliff. that's bag change for some politicians who promised they would never do that. abc's david kerley has the story. >> reporter: with some of his holiday shopping done, president obama may begetting a gift from some republicans, republicans who signed a pledge never to raise taxes. >> i will violate the pledge, long story short, for the good of the country, only if democrats will do entitlement reform. >> and senator chambliss says he won't necessarily abide by the pledge. support from a vocal republican house too. >> i agree with saxby chambliss. the world has changed. >> reporter: they are talking about this man's pledge, americans for tax reform president, who has gotten hundreds of republican whose sign. do you feel like you and your pledge are under assault? >> no. what the pledge does of course is allows, elected officials, to make it clear openly to the american voters where they stand. are tla they going to be a reforming government or raise tacks to continue more of the same? >> reporter: norquist's threat, he will help fund republican campaign ch
the compromising talk it won't have much impact at all on the fiscal cliff negotiations. there's little evidence of progress from staff level talks over the thanksgiving break and no hints from senate leaders just back in town. >> the senate has spoken and president obama has spoken. he's promised he will not sign any bill to pay for handouts to the wealthiest 2% of americans. i only hope house republicans have been listening. >> we've been responsible even as we've remained firm on this point, no tax increases now for promised spending cut that is won't materialize later. the american people have seen that game before and they won't be fooled again. >> reporter: over at the white house, the talk of breaking the no tax increase pledge got a positive response. >> some of the comments you mentioned are welcome and they represent what we hope is a difference in tone and approach to these problems. >> bottom line, as we always say, talks continue here in washington. the white house says the president did speak with speaker boehner and senator reid over the weekend to touch base on this very issue. a
to drive the approval rating down to 1%. but if we do go over the cliff, no one's going to remember the names of any of these house guys. they'll remember barack obama. i don't understand how -- maybe this is just where everyone will be shocked and all of a sudden they'll meet somewhere oond he'll say fine, as long as you raise revenues. but i don't see it that way. >> where are you on the numbers some. >> i think 250,000 is too low. i think 500,000 or a million is more in order. the administration's consistently talked about the ultra wealthy and the millionaires. i think the notion me personally of millionaires paying more is fine. i think if it's done in the tone of constructive collaboration and everybody picks up an ore and rose for rez lose i'm fine. >> and where would you be on capital gains and dividends? >> that's a little bit stickier, but to your earlier point, around your buffett example, can capital gains go up a little bit and dividends? probably. do i think it has a material impact on capital deployment and investment, probably not. i think, joe, your point on the mar
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